Devonshire Group secures deal for shopping centre

The Devonshire Group has completed a deal to buy a shopping village on the edge of the Peak District National Park.

Devonshire Property Group (DPG), which is part of the Devonshire Group of companies that represent the interests of the Duke and Duchess of Devonshire, has bought Peak Shopping Village for an undisclosed sum.

Situated at Rowsley, just three miles from Chatsworth, the shopping village was previously owned by a property investor.

But following several months of negotiations, the sale to DPG has now been completed.

The company intends to grow customers and jobs at Peak Shopping Village through a fresh approach based on its local expertise.

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It will work with the existing management team to improve the site, with immediate actions to include some essential repairs and redecoration.

More than 30 shops currently operate at Peak Shopping Village, which employs between 80 and 100 people.

National names such as Pavers Shoes, Leading Labels, The Gift Company and Regatta operate alongside independents such as The Woolroom.

The site also hosts events, including regular Makers Markets showcasing the talent of local artisans, and its biggest event, the ‘Peak Festive Spectacular’ at Christmas.

By revitalising the customer experience at Peak Shopping Village, with more units occupied and stronger marketing, DPG aims to boost footfall for the benefit of all occupants.

The Devonshire Group has strong experience in retail through its existing operations at Chatsworth (the estate farm shop and gift shops) and at Bolton Abbey and is a landlord to many retail outlets across its estates.

Lord Burlington, the Duke of Devonshire’s son, and Stephen Vickers, chief executive of the Devonshire Group, have been heavily involved in the planning and negotiation of the purchase.

Mr Vickers said: “We believe Peak Shopping Village has exciting potential and we see a bright future for jobs and growth.

“Our ultimate aim is for the site to realise its full potential as an important contributor to the fabric of the local economy and we will be developing our plans for achieving this in the coming months.”

Lord Burlington said: “Our team has the experience and expertise to help to reinvigorate Peak Shopping Village so that it's a better experience for shop owners and those who use the office space.

“We are determined to make it the best it can be, both for our local communities and for the experience of visitors to the area.

“For us, it’s an exciting, long-term investment in Derbyshire, at the gateway to the Peak District National Park and the Chatsworth Estate.”